2446

LAWS OF MARYLAND

[Ch. 472

to read as follows:

4-1. (83-63 and 86-4-1)

(b) They shall be issued under the hand and seal
of [such] THE commission and shall be guaranteed as to
payment of principal and interest by the county [council
or the county commissioners] COUNCILS of both Montgomery
and Prince George's counties, which guaranty shall be
endorsed on each of [such] THE bonds in the following
language: "The payment of interest when due and the
principal [[as]] at maturity is guaranteed by Montgomery
and Prince George's counties, Maryland". The bonds of
the sanitary district shall be signed by the chairman and
the secretary and the treasurer of the commission or, if
the commission shall so provide, by any two of its
members and the official seal of the commission shall be
impressed upon the bond [: provided, however, that].
HOWEVER, the commission may authorize any of [such] ITS
officials to sign the bonds with his facsimile
signature[; except, that each of such bonds shall be
manually signed by at least one of such officials, and
provided, further, that]. ALSO, the commission may
authorize a facsimile of the official seal of the
commission to be imprinted on the bonds, in which case it
shall not be necessary that [such] THE official seal be
impressed physically upon the bonds. [Such] THE guaranty
or endorsement by the county council [or the county
commissioners] shall be signed on each of [such] THE
bonds on behalf of each county by the county executive
[and the clerk of the board of county commissioners] or
by any officer designated for [such] THAT purpose by the
county executive [or the board of county commissioners],
by his facsimile or annual signature as the county
executive [or the board of county commissioners] shall
determine, within [twenty] 20 days after the bonds are
presented by the commission for the signing of [such] THE
endorsement. In the event of any liability under the
above guaranty, [such] THE liability for each county
shall be in [such] WHATEVER proportion as the assessable
basis of that part of either county within the sanitary
district bears to the assessable basis of the whole of
[such] THE district. Notwithstanding the foregoing
provisions of this paragraph, the commission may, at its
option and pursuant to the provisions of section 71—12 of
this Code, waive the guarantee of [such] THE counties
above provided for.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 22, 1975.